What is a commercial trade license?
Commercial licenses are licenses issued to businesses practising trading activities such as general trading, contracting, real estate, transportation, or healthcare activities.
This license is issued to investors who opt for commercial trading. General trading is included in the activities that require a commercial trade license. However, commercial trading is more specific in nature than general trading and involves trading in a limited number of products. The general trading license on the other hand doesn’t permit trading in all goods and commodities; transportation, real estate, and automobiles, for example, can only be undertaken using a commercial trade license.
Many businesses choose to incorporate a limited liability company (LLC) because it enjoys the benefit of protection for personal assets. For such an entity, the number of shareholders ranges between 1 and 50. The company’s liability is restricted to the amount of capital while the shareholder is not liable for the company’ debts but for his financial contribution in the company.
Furthermore, in early June 2021, in amendment of the Federal Law of 2015 concerning commercial companies, the DED permitted foreigners to establish companies (included in a ‘positive’ list of 1,000 commercial activities) with full ownership. The law revoked the requirement for such companies to have a 51% Emirati shareholder. The new rule does not apply to companies undertaking seven activities that have ‘strategic impact’.
Doculand fulfils the required formalities and duly designate the business activity for your company. Apply for a commercial trade license in Dubai with Doculand!
By obtaining a commercial trade license with Doculand, we provide you with various benefits, some of which are as follow:
To find out more about commercial licenses in the UAE speak to our business consultants for free!
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